PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300854
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300854
Global Endocrinology Drugs Market is valued at approximately USD 25084.24 million in 2022 and is anticipated to grow with a healthy growth rate of more than 7.82% over the forecast period 2023-2030. Endocrinology drugs deals with endocrine disorders, which are related to hormone imbalance and dysfunction in the endocrine system. Endocrinology drugs play an important role in providing therapeutic options for patients suffering from the endocrine disorder. The endocrinology drug market is being driven by factors such as Growing clinical trials of endocrinology drugs and rising endocrine disorders such as diabetes and thyroid.
Endocrinology drugs used to treat diabetes include insulin, which is a hormone that helps regulate blood sugar levels, and oral hypoglycemic agents (OHAs) such as metformin, sulfonylureas, and meglitinides. These drugs are designed to lower blood sugar levels and prevent complications associated with diabetes. According to the World health organization 537 million people lining with diabetes in 2021 and projections show this number is rising to 783 million people diabetic by 2045. Thus, rising in endocrine disorders fuels the market growth. In addition, advanced drug development and a growing aging population are creating a lucrative opportunity for market growth. However, Patent expiry on major endocrinology drugs is the major challenge impeding the endocrinology drugs market growth during the forecast years 2023-2030.
The key regions considered for the Global Endocrinology Drugs Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to high healthcare expenses and a high level of awareness in public, USA spends around 17.8% of the total GDP on healthcare. Where Asia Pacific is expected to have significant growth owing to factors such as rising disease prevalence, rising healthcare expenditure, a rapidly growing population and Government initiatives.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable